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1 Summary ● ● ● ● ● H1 2021 Financial outcome Adjusted revenue¹ in line with last year at £ 1,584.7m ( H1 2020 : £ 1,582.1m ) despite the ongoing impact of Covid - 19 ● ● On track for revenue growth in 2021 Won Total Contract Value of £ 2,576m , an increase of 70 % on prior year ( H1 2020 : £ 1,513m ) In Year Revenue won in H1 of £ 769m , up 13 % on prior year ( H1 2020 : £ 680m ) , supporting our positive outlook for growth in the full year and the medium term Strengthening the balance sheet Outlook ● H1 financial results in line with expectations : revenue maintained , profit and margins increased , net debt reduced Inflecting to growth : Total Contract Value won of £ 2.6bn in H1 ; In Year Revenue won up 13 % half - on - half Strengthening balance sheet : £ 536m disposal proceeds generated year to date , liquidity of £ 693.7m at 30 June 2021 New operational structure implemented Expect to deliver revenue growth this year and sustainable free cash flow² in 2022 ● Capita plc Half Year Results 2021 Adjusted profit before tax¹ increased by £ 56.4m to £ 45.3m ( H1 2020 : loss £ 11.1m ) reflecting stabilised revenue and ongoing efficiency delivery from the cost transformation programme Net debt ( IFRS 16 ) reduced by £ 182.7m to £ 894.4m ( 31 December 2020 : £ 1,077.1m ) reflecting adjusted free cash flow¹ growth , with disposal proceeds partially offset by catch - up pension deficit contributions . Pre - IFRS 16 net debt reduced to £ 427.8m ( 31 December 2020 £ 569.0m ) 75 % of targeted £ 700m in proceeds to address short - term maturities already achieved Completed the disposal of ESS in February for initial £ 299m , with a further £ 45m received in July and AXELOS completed in July for £ 182.2m Targeting further £ 175m of proceeds from subsequent disposals by end of H1 2022 RCF extended , triennial pension valuation completed Expect full year revenue growth in 2021 , driven by new contracts and recovery in Covid - affected businesses Operational performance and cost savings driving operating leverage Continue to strengthen balance sheet through ongoing disposal programme Building a more focused , sustainable business for the long term , delivering sustainable free cash flow² in 2022 Jon Lewis , Chief Executive Officer , said : " I am pleased with the progress we have made with our strategy and the priorities we set out in March . We have maintained revenue ; increased profit ; strengthened the balance sheet ; and implemented our new , simpler , more client focused divisional structure . " We have continued to deliver a good operational performance , won significant new business and have a strong pipeline of opportunities to come in the second half . We have also reduced our net debt , completing £ 536m of disposals already this year - with more to come . " We are delivering on our plans and remain on track to deliver organic revenue growth this year for the first time in six years and generate sustainable free cash flow² in 2022 . Six months ended 30 June 2021 " This performance has only been made possible by the outstanding commitment of our talented colleagues , whom I am so honoured and proud to work alongside . I would like to thank all of them for their hard work and professionalism . " Financial highlights - continuing operations Revenue Profit / ( loss ) before tax Cash ( used ) / generated by operations Free cash flow Net debt Reported 2021 £ 1,619.4m £ 261.1m ( £ 22.5m ) ( £ 71.6m ) ( £ 894.4m ) Reported 2020 Capita plc £ 1,682.7m ( £ 28.5m ) £ 355.7m £ 277.7m ( £ 1,096.6m ) ¹ Capita reports results on an adjusted basis to aid understanding of business performance . 2 Sustainable free cash flow = reported free cash flow excluding the impact of disposals Adjusted¹ 2021 £ 1,584.7m £ 45.3m £ 176.2m £ 130.7m ( £ 894.4m ) Adjusted¹ 2020 £ 1,582.1m ( £ 11.1m ) £ 189.8m £ 116.4m ( £ 1,096.6m ) Adjusted¹ YOY change - % 508 % ( 7 ) % 12 % 18 %